SBI Offers These Types Of Fixed Deposit (FD) Accounts

State Bank of India (SBI) offers a number of deposit schemes under it's personal finance portfolio. Fixed deposit (FD) scheme is one of the most popular deposit scheme offered by the bank. Fixed deposits (FDs) are secure financial instruments, which offer guaranteed returns. SBI offers a wide range of fixed deposit schemes that gives different interest rate and flexible tenure options. Tax savings account, reinvestment account, multi option deposit account, annuity deposit account and flexi deposit account are some of the fixed deposit accounts (FDs) of SBI..Fixed deposit (FD) rates offered by State Bank of India (Below Rs. 1 crore):.Revised from July 30, 2018:.table { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 16px; } table th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 20px; } table td:last-child, table th:last-child { } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; width: 320px; } table, thead, tbody, th, td, tr { font-size: 14px; } table th { padding: 4px; } table td { padding: 4px; } } /* iPads (portrait and landscape) ----------- */ @media only screen and (min-device-width: 768px) and (max-device-width: 1024px) { body { width: 495px; } } /*Media Query END*/ . Term Interest rate for general public (% per annum) Interest rate for senior citizens (% per annum) 7 days to 45 days 5.75 6.25 46 days to 179 days 6.25 6.75 180 days to 210 days 6.35 6.85 211 days to less than 1 year 6.4 6.9 1 year to less than 2 year 6.7 7.2 2 years to less than 3 years 6.75 7.25 3 years to less than 5 years 6.8 7.3 5 years and up to 10 years 6.85 7.35 . Here are different types of SBI's Fixed Deposit (FD) accounts:.SBI's Tax Savings account.SBI's Tax Savings Scheme, 2006 offers tax benefits for up to Rs 1.5 lakh under Section 80C of Income Tax Act. Resident Indians as an individual or in the capacity of the Karta of the Hindu Undivided Family, having income tax Permanent Account Number (PAN) are eligible to avail the benefits of SBI's Tax Savings fixed deposit account. One can deposit a minimum of Rs. 1,000 or multiples thereof whereas the maximum deposit should not increase Rs.1,50,000 in a year..SBI's Reinvestment Deposit account.Unlike a regular fixed deposit (FD) account, the interest is paid out only at the time of maturity in SBI's reinvestment plan. Regular interest is added to the principal and compound interest calculated and paid thereon. The minimum instalment that one is required to deposit in SBI's reinvestment plan is Rs. 1,000. There is no maximum limit on the investment..SBI's Multi Option Deposit account.SBI's Multi Option Fixed Deposit account is a type of fixed deposit (FD) account linked to the savings or current account. An MODS (Multi Option Deposit Scheme) account holder can withdraw in multiples of Rs 1,000 as per his or her needs. The balance amount continues to earn the fixed deposit rates applicable at the time of initial deposit, as mentioned on SBI's corporate website- sbi.co.in.SBI's Annuity Deposit account.SBI's annuity deposit account is also a type of fixed deposit (FD) account. This account enables the depositor to pay a one-time lump sum amount and receive the same in equated monthly instalments (EMIs), comprising a part of the principal amount as well as interest on the reducing principal amount, compounded at quarterly rests and discounted to the monthly value, according to SBI. The minimum amount of deposit is Rs 25,000 and there is no maximum limit of deposit amount for this scheme..SBI's Flexi Deposit account.Under SBI's Flexi Deposit Scheme, user can decide to vary his/her instalment amount and even the number of monthly within the annual sum defined. For a financial year, the minimum deposit amount is Rs. 5,000 and maximum deposit amount is Rs. 50,000, said SBI.

SBI Offers These Types Of Fixed Deposit (FD) Accounts

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